The retail developer recently bought the site from AMLI Residential Construction, Inc., an arm of the Chicago-based multifamily REIT that has seven other upscale complexes in the market and a total of 3,243 units. Although sales price of the deal was not disclosed, AMLI was asking $1.8 million for the parcel.
The 35-acre AMLI at St. Charles already includes a small retail component, where First American Bank, Panera Bread and a Sweet Tomatoes restaurant have set up shop.
Craig Lillibridge, a senior associate with CB Richard Ellis, represented AMLI.
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